Los Angeles County Employees’ Retirement Association approves $200m in commitments

The US public pension has backed two private equity funds.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $58.44bn
Allocation to Alternatives: 23.3%
Bitesize: $100-200m

LACERA has agreed to commit $200 million to two private equity funds, as confirmed by a representative within the organization. The commitments comprise of $150 million to RedBird Series 2019 and $50 million to Atlantic Street Capital IV.

This is LACERA’s first commitment to RedBird Capital Partners, a New York and Dallas based private equity firm with an investment philosophy focused on long term value creation in partnership with entrepreneurs, founders, and family offices.

RedBird Series 2019 is a growth equity fund focused on North Americas opportunities within the sports, communication infrastructure, energy/industrial, and opportunistic sectors. RedBird Series 2019 is the firm’s third private equity fund since inception in 2014.

As illustrated in the charts below, LACERA has previously committed to two funds managed by Atlantic Street Capital, which comprise of $7 million and $10 million to Funds II and III respectively. The Connecticut based private equity firm focuses on creating value in businesses through operational improvement.

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